Ciena (CIEN) FY2016 results: revenue $2.6 billion, up 6.3% on the year
Ciena Corp. (CIEN) reported revenue of $2.6 billion for fiscal 2016, the year ended 31 October 2016, up 6.3% on the year before. Net income was $73 million, up 522.1%, and diluted earnings per share $0.51. The figures are the company's own, from the 10-K it filed with the SEC on 21 December 2018.
Revenue
$2.6 billion
+6.3% on the year
FY2009FY2016
Operating margin
6.0%
4.1% a year earlier
FY2009FY2016
Net income
$73 million
+522.1% on the year
FY2009FY2016
Diluted EPS
$0.51
+410.0% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
2,601
2,446
2,288
+6.3%
Cost of revenue
1,439
1,370
1,340
+5.0%
Gross profit
1,162
1,076
948
+8.0%
Gross margin
44.7%
44.0%
41.4%
Research and development
452
414
401
+9.1%
Operating income
156
100
45.7
+55.5%
Operating margin
6.0%
4.1%
2.0%
Interest expense
56.7
51.2
47.1
+10.7%
Pre-tax income
86.7
23.8
-26.7
+264.9%
Income tax
14.1
12.1
14.0
+16.8%
Effective tax rate
16.3%
50.9%
n/a
Net income
72.6
11.7
-40.6
+522.1%
Net margin
2.8%
0.5%
-1.8%
Diluted EPS
$0.51
$0.10
-$0.38
+410.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
290
262
89.8
+10.5%
Capital expenditure
107
62.1
48.2
+72.6%
Free cash flow
182
200
41.6
-8.8%
Free cash flow margin
7.0%
8.2%
1.8%
Cash from investing
-296
-43.1
-106
Cash from financing
-4.2
-8.1
259
Depreciation and amortisation
125
125
102
-0.4%
Share-based compensation
52.0
55.3
42.9
-6.0%
Buybacks
0.0
n/a
n/a
Diluted shares, weighted
151m
120m
106m
+25.5%
Shares outstanding at period end
140m
136m
107m
+3.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
766
621
-69.6
+23.4%
Debt
1,254
1,272
1,465
-1.4%
Other liabilities
854
803
677
+6.4%
Total liabilities and equity
2,874
2,695
2,073
+6.6%
Fixed assets
288
192
127
+50.2%
Goodwill
267
256
0.0
+4.1%
Intangible assets
147
203
129
-27.6%
Investments
365
230
190
+58.7%
Cash and equivalents
778
791
587
-1.7%
Receivables
576
551
519
+4.6%
Inventory
211
191
255
+10.5%
Other assets
241
281
267
-14.2%
Total assets
2,874
2,695
2,073
+6.6%
10-K for the year ended 31 October 2016, filed 21 December 2018: the filing.